This is optional and may or may not include a payment of monetary value. U.S. law only requires employees to receive wages because of the last day of work and accumulated leave. Even the largest companies lay off employees without severance pay. You will find the conditions of the departure packages in your employment contract. Remember that the company wants you to sign the agreement, so you don`t have any future claims. Consider whether the proposed redundancy package is worth this release. In the personnel manual you will find rules and procedures for dismissals. Pay particular attention to the company`s policy on different reasons for dismissal. For example, if this is due to a reduction in the business, you may be entitled to an indemnity plan or additional payments.
Severance pay may take the form of benefits rather than cash. A separation agreement is a contract between two parties and is therefore subject to contract law. The contract binds both parties and any non-performance by one of the parties may assert a right for infringement. However, a court may annul or fail to enforce an agreement that is unfair or inappropriate or where support is insufficient for children or spouses. Nolo Press has given good legal advice to unsused parties since I started my pre-Pleistocene law studies. Here`s a brief article from Nolo Press about the wisdom of signing termination agreements with links to labor law specialists near you. Here is another good article on the aol-Job website that covers additional concerns that you should address to your employer. And here`s a really ongoing review of termination agreements on the law.com site. Ask for a break for your hourly rate. Lawyers give discounts all the time and are used to being solicited. If they say “no” and you can`t afford to do so, ask yourself if you know someone they believe is competent to accomplish the mission, but is cheaper than them.
You will usually be able to give yourself a recommendation. Even if you don`t intend to file a complaint against your former employer, an employment lawyer can help you negotiate a better termination agreement.. . . .